Arizona State Retirement System Acquires 746 Shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Arizona State Retirement System boosted its holdings in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,536 shares of the company’s stock after acquiring an additional 746 shares during the period. Arizona State Retirement System’s holdings in Chinook Therapeutics were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. grew its holdings in Chinook Therapeutics by 1.9% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,345,559 shares of the company’s stock worth $113,854,000 after acquiring an additional 80,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of Chinook Therapeutics by 9.6% during the third quarter. BlackRock Inc. now owns 3,651,299 shares of the company’s stock valued at $71,785,000 after buying an additional 319,169 shares during the last quarter. State Street Corp lifted its position in shares of Chinook Therapeutics by 58.8% during the third quarter. State Street Corp now owns 2,465,719 shares of the company’s stock valued at $48,476,000 after buying an additional 912,778 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Chinook Therapeutics by 0.9% during the third quarter. Point72 Asset Management L.P. now owns 2,440,754 shares of the company’s stock valued at $47,985,000 after buying an additional 21,655 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Chinook Therapeutics by 1.6% during the third quarter. Vanguard Group Inc. now owns 2,399,766 shares of the company’s stock valued at $47,180,000 after buying an additional 37,190 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors.

Insider Transactions at Chinook Therapeutics

In other news, insider Andrew James King sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $23.34, for a total transaction of $116,700.00. Following the sale, the insider now owns 16,992 shares of the company’s stock, valued at approximately $396,593.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Eric Dobmeier sold 23,800 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $21.58, for a total transaction of $513,604.00. Following the sale, the chief executive officer now owns 302,338 shares of the company’s stock, valued at approximately $6,524,454.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew James King sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $23.34, for a total transaction of $116,700.00. Following the sale, the insider now directly owns 16,992 shares in the company, valued at approximately $396,593.28. The disclosure for this sale can be found here. Insiders have sold 725,532 shares of company stock valued at $15,889,581 in the last 90 days. 23.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KDNY has been the subject of several analyst reports. HC Wainwright increased their price target on shares of Chinook Therapeutics from $31.00 to $32.00 in a research report on Wednesday, May 10th. Guggenheim decreased their price target on shares of Chinook Therapeutics from $43.00 to $35.00 in a research report on Tuesday, May 2nd. Oppenheimer increased their price objective on shares of Chinook Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, February 28th. Finally, Piper Sandler initiated coverage on shares of Chinook Therapeutics in a research report on Monday, March 6th. They issued an “overweight” rating and a $41.00 price objective for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $37.00.

Chinook Therapeutics Trading Up 3.7 %

KDNY opened at $22.12 on Tuesday. Chinook Therapeutics, Inc. has a 12-month low of $12.70 and a 12-month high of $27.44. The firm has a market capitalization of $1.48 billion, a PE ratio of -6.93 and a beta of 0.17. The firm has a 50 day moving average of $21.73 and a two-hundred day moving average of $23.07.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.03). Chinook Therapeutics had a negative return on equity of 47.13% and a negative net margin of 4,114.05%. The business had revenue of $1.83 million for the quarter, compared to analysts’ expectations of $0.14 million. Chinook Therapeutics’s revenue was down 32.2% on a year-over-year basis. As a group, analysts predict that Chinook Therapeutics, Inc. will post -3.22 EPS for the current fiscal year.

Chinook Therapeutics Company Profile

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Chinook Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering, developing, and commercializing precision medicines for rare, severe chronic kidney diseases. The company was founded in 2019 and is headquartered in Seattle, WA.